8722 Ramsgate Ave, Los Angeles, CA 90045

Image 2 for 8722 Ramsgate Ave, Los Angeles, CA 90045

View Photos

8722 Ramsgate Ave Los Angeles, CA 90045

$1,400,000 Sold Price as of 07/28/2023

8 Beds
4 Baths
3,260 Sq.Ft.

Sold

$1,400,000 Sold Price as of 07/28/2023 Refinance Your Mortgage

Refinance Your Mortgage

Map preview of 8722 Ramsgate Ave, Los Angeles, CA 90045

Property Overview: 8722 Ramsgate Ave Los Angeles, CA has 8 bedrooms, 4 bathrooms, 3,260 living square feet and 6,822 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to offer an attractive investment opportunity in the bustling neighborhood of Westchester. This fully vacant fourplex, comprising four spacious two-bedroom one bath units, is ripe for transformation. Value-add investors and owner-users alike have a unique chance to build significant property value. The potential to add ADUs, subject to state and local laws, alongside the ability to rent units at market rates post-Ellis Expiration on November 3, 2023, amplifies this property's investment potential. Located in the vibrant Westchester neighborhood, surrounded by economic hubs like Google, Northrop Grumman, and Boeing, and in proximity to the renowned Loyola Marymount University, this property is perfectly positioned to attract a diverse and affluent tenant base.

Listed by Benjamin J. Hsiang | BRE #01438644 | Realty Investment Advisors, Inc.
Co-listed by Don Favia | BRE #01841258 | Realty Investment Advisors, Inc.

Last checked: 2 minutes ago | Last updated: July 28th, 2023 | Source CRMLS | DOM: 44

Home details

Lot Sq. Ft: 6,822
HOA Dues: $0/mo
Year built: 1951
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 23271071
City: Los Angeles
County: Los Angeles
Time on Site: 342 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 4
Total # of Buildings: 1

Unit Breakdown 1

# of Units: 4
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $2,575
Total Rent: $0
Pro Forma/Market Rent: $10,300

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 6.38%
Gross Rent Multiplier: 11.33
Gross Scheduled Income: --
Net Operating Income: $89,267
Gross Operating Income: $119,892

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 8722 Ramsgate Ave

Interior Features

Cooling Information

No Cooling
None

Heating Information

No Heating
None

Lot Details / Garage and Parking

Parking/Garage Information

# of Parking Spaces: 4
Has Parking

Property Information

Total # of Units: 4
Parcel Number: 4125015017

Homeowners Association, Utilities, Taxes / Assessments

Homeowners Association

Is Not Part of Association

Location / Neighborhood

Location Information

Directions: West on W. Manchester Ave, South on Ramsgate Ave

View more facts & features

Local Los Angeles Agent

Sale History for 8722 Ramsgate Ave

Last sold for $1,400,000 on July 28th, 2023

July, 2023
Jul 28, 2023

Date

Sold

CRMLS: 23271071

$1,400,000

Price
Jun 2, 2023

Date

Active

CRMLS: 23271071

$1,400,000

Price
May, 2023
May 16, 2023

Date

Canceled

CRMLS: 23260097

$3,100,000

Price
Apr 17, 2023

Date

Active

CRMLS: 23260097

$3,100,000

Price
Listing provided courtesy of CRMLS

Presenting a rare opportunity for a developer to acquire a development deal in the highly sought-after Westchester neighborhood. This property is located at 8716-8722 Ramsgate Ave and has received a Letter of Determination for 30 buildable units. This development can be purchased individually, or as part of a combined 288 buildable unit portfolio within a quarter-mile radius with a total asking price of $28,300,000.This location is strategically situated just minutes from the world-renowned LAX airport, surrounded by major employers such as Google, Northrop Grumman, and Boeing, making it an ideal location for those seeking employment opportunities. The area also offers easy access to SoFi Stadium, home to the Los Angeles Rams and Chargers, which has become a major entertainment destination that hosts a variety of events throughout the year. A few miles west is Playa Del Rey, a vibrant beach town offering a relaxed atmosphere, access to the beach, and a variety of local shops and restaurants. Loyola Marymount University, one of the top private universities in the region, is also less than three miles away, adding a strong educational element to the area. Additionally, located just southwest of Westchester, El Segundo is a booming city home to the headquarters of several major corporations, including Mattel, Raytheon, and SpaceX. The average household income within two miles of this property assemblage exceeds $100,000, reflecting the tremendous economic strength of the area. In 2022, Google leased nearly 53,000 square feet of space in Playa Vista, indicating the strong potential for growth and development in the area. This unique investment opportunity is not to be missed by developers and institutions looking to quickly expand their ground-up portfolio and capitalize on the unlimited potential of this central area. With the acute housing shortage in Los Angeles, this opportunity also presents a chance to create high-quality housing options for one of the highest rental demand markets in California.

Continue Reading
September, 2017
Sep 8, 2017

Date

Sold (Public Records)

Public Records

$1,300,000

Price
August, 1996
Aug 9, 1996

Date

Sold (Public Records)

Public Records

$190,000

Price

Tax History for 8722 Ramsgate Ave

Assessed Value (2020): $1,352,520

Year	Land Value	Improved Value	Assessed Value
2020	$1,040,400	$312,120	$1,352,520

Home Value Compared to the Market

This property vs the competition

8722 Ramsgate Ave sold on July 28, 2023 for 17.65% higher than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $429.45 per/sqft which puts the price per square foot 43.12% lower than the current median sale per square foot for the city of Los Angeles.

About 8722 Ramsgate Ave

Detailed summary of property

8722 Ramsgate Ave is a multi family that recently sold in Los Angeles, CA 90045. This multi family property offered 8 bedrooms, 4 bathrooms, roughly 3,260 living square feet, and sits on an approximately 6,822 square foot lot. 8722 Ramsgate Ave was first listed on ArdentRealEstateGroup.com on June 5, 2023. The homeowner sold the property for $1,400,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 17.65% higher than the current median priced home. Local homes that are currently for sale include 5426 Smiley Dr, 5346 Smiley Dr and 1722 W 85th St. While the average home in Los Angeles, CA is selling in 93 days, 8722 Ramsgate Ave has a days on market of 44 days. There are currently 3618 homes for sale in the Los Angeles real estate market and 2437 of them are single family homes while 1084 of them are condos and 92 are townhomes. For more information on this home for sale at 8722 Ramsgate Ave Los Angeles, CA 90045 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 8722 Ramsgate Ave

Public county record property details

Beds: 8
Baths: 4
Year built: 1951
Sq. Ft.: 3,260
Lot Size: 6,821
Stories: --

Type: Quadruplex (4 Units, Any Combination)
Pool: No
Spa: No
County: Los Angeles
Lot#: 144
APN: 4125-015-017

The source for these homes facts are from public records.

90045 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$1,649,999

Median List Price/Sq.Ft.

$884

Median Sold Price

$1,510,000

Median Sold Price/Sq.Ft.

$880

Total Inventory

101

Median Sale to List Price %

103.78%

Avg Days on Market

Loan Type

Conventional (28.57%), FHA (0%), VA (0%), Cash (28.57%), Other (7.14%)

Thinking of Selling?

Is this your property?
Thinking of Selling?
Call, Text or Message

(714) 706-1823

Homes for Sale Near 8722 Ramsgate Ave

Nearby Homes for Sale

Recently Sold Homes Near 8722 Ramsgate Ave

8716 Ramsgate Ave, Los Angeles, CA 90045

$1,400,000 Last Sold Price

8 Beds

4 Baths

3260 Sq.Ft.

8716 Ramsgate Ave
Los Angeles, CA 90045

$1,600,000 Last Sold Price

5 Beds

3 Baths

2855 Sq.Ft.

8755 Reading Ave
Los Angeles, CA 90045

8615 Ramsgate Ave, Los Angeles, CA 90045

$1,250,000 Last Sold Price

4 Beds

4 Baths

2764 Sq.Ft.

8615 Ramsgate Ave
Los Angeles, CA 90045

$2,400,000 Last Sold Price

12 Beds

6 Baths

4752 Sq.Ft.

8733 Reading Ave
Los Angeles, CA 90045

Related Resources to 8722 Ramsgate Ave

New Listings in 90045

Popular Zip Codes

Popular Cities

Other Los Angeles Resources

Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.